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Gas Price Declines for 9th Week in 10

From Bloomberg News

The average U.S. retail price for gasoline fell for the ninth week in 10, declining 1.1 cents to a four-month low of $1.487 a gallon, as refiners passed along cheaper crude-oil costs to motorists, the Energy Department said.

The nationwide average for regular-grade fuel is down 24.1 cents, or 14%, from a record $1.728 in the week ended March 17.

The price, for the week ended Monday, was still up 7.2% from $1.387 a year ago. The latest price was the lowest since $1.473 in the week ended Jan. 27.

Pump prices fell in every region of the nation except the Gulf of Mexico region, the government said. Gasoline was most expensive on the West Coast, where regular-grade fuel averaged $1.699 a gallon, down from $1.735 the previous week.

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Prices were $1.836 in San Francisco and $1.749 in Los Angeles.

The West Coast average still was up from $1.505 a year ago.


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